The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances: Account Title Debits Credits Cash 29,600 Accounts receivable Equipment Accumulated depreciation Salaries payable 16,500 28,000 8,400 9,250 47,500 8,950 Common stock Retained earnings 74,100 74,100 Total The following is a summary of the transactions for the year: a. Service revenue, $128,00O, of which $38,400 was on account and the balance was received in cash. b. Collected on accounts receivable, $25,900. c. Issued shares of common stock in exchange for $14,500 in cash d. Paid salaries, $46,750 (of which $9,250 was for salaries payable at the end of the prior year) e. Paid miscellaneous expense for various items, $25,200. f. Purchased equipment for $17,000 in cash g. Paid $3,100 in cash dividends to shareholders. 1. Accrued salaries at year-end amounted to $935. 2. Depreciation for the year on the equipment is $2,800. Required: 2., 5, & 8. Prepare the summary, adjusting and closing entries for each of the transactions listed. 3. Post the transactions, adjusting and closing entries into the appropriate t-accounts. 4. Prepare an unadjusted trial balance. 6. Prepare an adjusted trial balance. 7-a. Prepare an income statement for 2021. 7-b. Prepare a balance sheet as of December 31, 2021. 9. Prepare a post-closing trial balance Req 3 Req 2 5 and 8 Req 4 Req 6 Req 7A Req 7B Req 9 Prepare the summary, adjusting and closing entries for each of the transactions listed. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet General Journal Credit No Transaction Debit Cash 89,600 1 .. Accounts receivable 38,400 Service revenue 128,000 25,900 2 Cash Accounts receivable 25,900 3 Cash 14,500 C. Common stock 14,500 Salaries expense 4 d 37,500 Salaries payable 9,250 Cash 46,750 Miscellaneous expense 25,200 5 . Cash 25,200 f 6 Equipment 17,000 Cash 17,000 Retained earnings 7 3,100 g. Cash 3,100 Salaries expense 8 h. 935 Salaries payable 935 Depreciation expense 2,800 i. Accumulated depreciation 2,800 Service revenue 10 j. Retained earnings Retained earnings 11 k. Salaries expense Miscellaneous expense Depreciation expense 12 . No Transaction Recorded Journal entry worksheet O 10 1 7 11 Record the entry to close the revenue accounts using the retained earnings account. Note: Enter debits before credits. Credit Transaction General Journal Debit Service revenue j. Retained earnings Record entry Clear entry View general journal 12 Journal entry worksheet 12 10 1 5 7 11 Record the entry to close the expense accounts using the retained earnings account Note: Enter debits before credits. Debit Transaction General Journal Credit Retained earnings k. Salaries expense Miscellaneous expense Depreciation expense Record entry Clear entry View general journal Journal entry worksheet 10 O 12 1 5 7 11 Record the entry to close the dividends account. Note: Enter debits before credits. Transaction General Journal Debit Credit I. Record entry Clear entry View general journal